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Sydneysider saying hello!

Discussion in 'Introductions' started by Mike.In.House, 21st Sep, 2016.

  1. Mike.In.House

    Mike.In.House New Member

    Joined:
    20th Sep, 2016
    Posts:
    2
    Location:
    Sydney
    Hello everyone! Mike here :)

    I am 28 and a health professional. Currently living with my parents. I have been planning to get my first property for a while but only changed my mindset towards savings and delayed gratification in last few months.

    I have some money invested in shares (ETFs) but not nearly enough for a deposit. I am also a bit of a gambler mainly sports. I like the excitement! but want to reduce that and focus on property. I am on average income so that doesn't help either.

    I am planning to buy my first property (/investment property) within a year. I would prefer to buy in Sydney or the Central Coast as I live and work in both locations. I believe the timing is not so good as it looks like the price is already at its peak therefore looking for other locations....and I am here to learn and seek advice from the experts! :)
     
    Concept likes this.
  2. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

    Joined:
    9th Jul, 2015
    Posts:
    1,078
    Location:
    Perth
    Welcome to PC @Mike.In.House

    Stick around read a lot, ask questions and most importantly apply the knowledge and in no time you will be an expert.
     
  3. wombat777

    wombat777 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,420
    Location:
    33°41'24.7"S 150°55'34.3"E
    If you are starting out, have an open mind and think about buying in markets (other capitals) that are more affordable. Might allow you to buy sooner than you expect. A good rental yield and hence cash flow will help.

    Chat to a broker if you haven't already to better understand your serviceability.

    Try and get to one of the meetups too. Will really accelerate your learnings talking to other investors that were all once new investors.
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,143
    Location:
    Canberra and Sydney
    Welcome aboard :)

    What sports are you into? Quite a few Bball and footy fans on the forum.

    Cheers

    Jamie
     
  5. Mike.In.House

    Mike.In.House New Member

    Joined:
    20th Sep, 2016
    Posts:
    2
    Location:
    Sydney
    Thanks guys! :) I am open to other markets but have preference over NSW and QLD as I have friends and family in both states. I mainly follow cricket and tennis. Looking forward to attend one of the meetups!
     
  6. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,501
    Location:
    Sydney
    Cricket!!! Welcome.
     
  7. Tony Fleming

    Tony Fleming Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    534
    Location:
    Sydney
    Welcome @Mike.In.House don't worry about the average income plenty of ways around that!